Suppose that a market is described by the following supply and demand equations:

QS=2P

QD==180P

The equilibrium price in this market is________ and the equilibrium quantity is_____ units.

Suppose that a tax ofT

Tis placed on buyers, so the new demand equation is as follows:

QD=180(P+T)

The new equilibrium price is_____(60-t, 60-t/3, 180+t, 60+t/3)and the new equilibrium quantity is____(180+t, 120-2t/3, 120+ 2t/3, 120-t ).

The price received by seller_____(decreases / increase)the price paid by buyers____(decreases / increase) and the quantity sold_____.(decreases / increase)